BOI gives DMCI Power 6-year income-tax holiday

DMCI Power Corp. has been granted a six-year income-tax holiday for its 2×4.95 megawatt (MW) bunker-fired power plant in Aborlan, Palawan.

DMCI Power’s entitlement to the tax incentive was determined based on its project’s ability to contribute to the economy’s development as measured by its net value added, new jobs generated, multiplier effect and measured capacity.

The tax break was granted by Board of Investments (BOI). Under the 2014 Investment Priorities Plan (IPP), power projects in missionary areas qualify for pioneer status.